Tuesday, June 25, 2024

Will The Market Breakthrough Resistance?

Thursday Update...

(to watch on youtube: http://www.youtube.com/watch?v=O0dvMgh7oZ4)

Red

_____________________________________________________

If it does, I don't think it's going too far...

(to watch on youtube: http://www.youtube.com/watch?v=mIy0O4kiyd8)

I'm still looking for a least a quick pierce through the current overhead resistance and put in at least a double top around 1308-1310  spx area.  If it pierces that, then it could go on higher to the 1330 area.  The market simply wants to go higher it seems.  The gangsters will continue to manipulate this market until the last days I believe.

Their QE2 POMO money ends in June, and I fully believe that they are going to try and hold it up as long as they can.  That doesn't mean we won't have some down days of course, but a crash doesn't seem likely until much closer to the end of the POMO money... which again, is in June.

Ok, as for tomorrow, I'm expecting a push up in the morning from the 60 minute chart.  Then for it to get overbought in the first half of the day.  Depending on how high it goes, will depend on how long it takes.  There's nothing to say that we are going up to 1330, as we could turn back down tomorrow if the market can't get through the resistance overhead and close there.

I don't know what will happen as the news over Portugal rejecting Government Austerity Measures could scare traders enough to bailout on their long positions fearing a default over the weekend.  The market is holding it together with the manipulation by the governments POMO money only right now, and that will work as long as the volume stays low.  If traders panic some and the volume picks up, then the selling could get intense.

I know that the Illuminati controls the market and the main stream news, but the internet is tougher to suppress... meaning that traders will be reading various blogs and could easily get the news exposed too them, even if the gangsters won't let it out on network TV.

So the point is... I think it's getting tougher and tougher for them to hold this market up.  If they can have an "all up day" tomorrow, then yeah... we will likely go to 1330 for a backtest of the broken trendline from the rising channel that started last year in September.

Of course if the gangsters really succeed in manipulating this market over the next few months, then they could take it up to the 138.86 spy FP before letting it crash.  We have to keep our eye's on the weekly chart as it could turn back up or continue down... I just can't answer that?

For the short term though, I'll be looking for a place to short tomorrow after the 60 minute chart looks tired and peaked.  I'll be watching the 30 and 15 minute chart too, as that should give us the entry spot.  Let's see how far the morning POMO can push it up tomorrow first, as the charts favor the bulls early Thursday, but later on they should tire out and give the bears a shot.

That's all folks...

Red

P.S.  Here's the link to the article with Ben Fulford and David Wilcock...

https://www.kitcomm.com/showthread.php?t=78501).

Red
Author: Red

Related Articles

555 COMMENTS

0 0 votes
Article Rating
555 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Anonymous
Anonymous
13 years ago

Durable Goods Orders Disappoint, Fall 0.9% Vs. Expected Gain 3.6%; Jobless Claims Fall by 5,000 to 382,000, Estimates Called for No Change

Looks like mixed reaction from the market.. falling off a tiny bit while it is getting digested… was that the spike?

richie
richie
13 years ago

red,

well red, this is my last go at the simpsons clip, and it is simple 3.24.11. (2+4=6) so we have 6.11, and the 3 reflects the three characters in the scene prior, the ones detonating the bomb.

LOL ~ red this is a very very weak and mostly incorrect analysis of the 6.11 simpsons clip, although i thought i would throw it out here in the comments for a good laugh!

Red Dragon Leo
13 years ago

We go our pop folks… now will we drop? I think we could go back up a little more still, but I’m not chancing it. I’m short again. I’ll ride out any up move today, but I think we will close down.

Anonymous
Anonymous
13 years ago
Reply to  Red Dragon Leo

I think going short might be a good call …. GL!

Anonymous
Anonymous
13 years ago

From Uncommon Wisdom… good take on DOW, silver and gold
http://www.uncommonwisdomdaily.com/i-will-not-pull-the-trigger-until-%E2%80%A6-11603

richie
richie
13 years ago

great call red,

you nailed this one so far rdl. a morning ‘pop up’ to fade! sweetness!

Red Dragon Leo
13 years ago
Reply to  richie

Richie, did you get my email yesterday? It’s not from red (at) reddragonleo (dot) com, but from a different email address. Check your junk file.

richie
richie
13 years ago
Reply to  Red Dragon Leo

ok red, i will check….

Red Dragon Leo
13 years ago

Well, I guess I went short a little too early. I knew there was a possibility that they would push it higher again. Looks like we might be going to 1308-1310 after all.

Anonymous
Anonymous
13 years ago
Reply to  Red Dragon Leo

you can never get the exact top and you can never get the exact bottom… .

Red Dragon Leo
13 years ago
Reply to  Anonymous

Yeah… I know. But, I said in the video that we should go up to 1308-1310. So why didn’t I listen to myself and wait until then? (banging head on wall here, wanting the best entry spot… bummer)

Red Dragon Leo
13 years ago

$300 Billion or more in damage and 20,000+ people dead in Japan, and the market rallies… sicken!

richie
richie
13 years ago
Reply to  Red Dragon Leo

add to that the fact that WTI is over 106$/barrel and you it makes you really question ‘what the bejesus is going on!!!!”

Anonymous
Anonymous
13 years ago
Reply to  richie

given crude prices – this market should have tanked hard. Volume still seems pretty lame… when we fall it should be unexpected and hard. Just look at the VIX – no fear out there right now. La La Land as usual…

Red Dragon Leo
13 years ago
Reply to  Anonymous

La La Land is right… kind of like an Ostrich sticking his head in the ground between two railroad tracks, not seeing or hearing the oncoming train!

Anonymous
Anonymous
13 years ago
Reply to  Red Dragon Leo

Unbelievable.

richie
richie
13 years ago

red,

just found the email. i emailed back….

Anonymous
Anonymous
13 years ago

these wallstreet pricks are scumbags, you never know what to expect. either too late or too early.

Anonymous
Anonymous
13 years ago

this is whats going on. the fed is putting in the money so fast that the banksters cannot keep up with taking it back out. oh well

Anonymous
Anonymous
13 years ago

all the bears are scrambling lol

Red Dragon Leo
13 years ago
Reply to  Anonymous

That means the top is almost in…

INFOMAMA
13 years ago

Did you guys see this letter from hackers anonymous on Zero Hedge?
http://www.zerohedge.com/article/hacker-collective-anonymous-issues-open-letter-citizens-united-states
Regarding market dropping, I said it before, it is hard to win the fight with market manipulation, so that is why I am out of shorts long time ago and long in physical silver, you guys need to keep in mind the market may not drop at all…..

Red Dragon Leo
13 years ago
Reply to  INFOMAMA

Well, like I said… we could go up to the 138.86 spy FP before we rollover.

Anonymous
Anonymous
13 years ago

game over.. boys… you cant beat the FED..

Anonymous
Anonymous
13 years ago

like you said Red, any areas met with resistance, they’ll just gap it up and over. how about a “gap and trap”. for now wall street can just use my money to flash trade with, but then I’d like it back pleeeeeeeease.

Anonymous
Anonymous
13 years ago

Perfect example of how the market drives the news…CNBC is blustering how several companies are “driving the market higher on great earnings.” I picked one to look at, ConAgra, and its earnings were lower than last year. So, “great news” is a complete fabrication to fit what’s happening in the markets, and it’s in plain sight. This must have been one of those “Hey Bob Pisani – ask one of the drones behind you why the market is going up.”

This market isn’t going to break out. Today is a “relief rally” in the EUR/USD nobody wants to talk about for obvious reasons.

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

now come on, all the issues are resolved and there’s no new ones. good observation on conAgra.

Anonymous
Anonymous
13 years ago

I dont think those rats are going to close it above the 50

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

It’s still possible, but they would have to keep it over for a few days…the last time is closed above, the very next day it crashed thru again and the market was done from then on…plus, the pits say we’ll at least see a test of the lows.

Red Dragon Leo
13 years ago

Well gang… all the short term charts look peaked and ready to rollover. But, will they let it? The daily is trying to curl back up and go positive, but it could either way? I think it will breakdown today, but what do I know… I’m just a sheep after all.

Anonymous
Anonymous
13 years ago
Reply to  Red Dragon Leo

At least you’re a black sheep, not one of the slughterhouse type.

Red Dragon Leo
13 years ago
Anonymous
Anonymous
13 years ago

hanging around that horizontal resistance on the daily with overbought 30 and 60 good luck with that oh bearded one. the bad news is europe closed strong so we have to, hope im wrong.

Anonymous
Anonymous
13 years ago

stop sweep, let some bulls on, then take er down. Ok boss, you heard em boys. and make it look real

Red Dragon Leo
13 years ago
Reply to  Anonymous

Yes… I agree. Just break that rising trendline and fall off the cliff please.

Anonymous
Anonymous
13 years ago
Reply to  Red Dragon Leo

indeed. thank you for your time and energy in this blog and videos. I do learn alot from you. I would donate but trust me when I say child support is already tapping me clean, so I’m sorry about that. Look at it like this, in a way you’re helping a kid. lol

Red Dragon Leo
13 years ago
Reply to  Anonymous

LOL… glad I can help. This blog may have started out about the stock market, but it’s branched out into more important issues… “The Gangster’s that control us”!

http://reddragonleo.com/wp-content/uploads/illuminati-sign-the-enemy-is-individuality.jpg

SAN
SAN
13 years ago

SPY 5 Minutes chart

Anonymous
Anonymous
13 years ago
Reply to  SAN

looks good to me, thanks san

Anonymous
Anonymous
13 years ago
Reply to  SAN

maybe @ 130? If i got you right.

SAN
SAN
13 years ago
Reply to  Anonymous

@130 intraday may turn bearish again u r right

Anonymous
Anonymous
13 years ago

Everything you have talked about Red, indeed “The Devil is dancing around the fire!” http://www.youtube.com/watch?v=tuUN8ioqyB0&feature=player_embedded#at=63

richie
richie
13 years ago

red,

gangsta’s aside ~ they can only do what they will if they have a colluding posse. we all know these markets are a true fantasy fabrication ~ a farce of price and valuation ~ and yet there is NO real selling. thank you to the money managers of the hedge funds, and the pension funds, and the insurance funds, etc, who are the posse of the ganstas. it is truely sickening that the manager of the funds of retirees and the insured will sell their souls to this fake cause and stay in this market. it is just plain creepy!!

Gold_Gerb
13 years ago

proof positive – the NYSE doesn’t like competition.
http://www.middle-east-online.com/english/?id=36497
[hard to find libya news on this item]

Kevin
13 years ago

S&P 500 magnet to 1330 getting charged up if it can break that falling trendline from the 1343 peak. 60 min looks pretty tired though. Maybe recycle back to 1300 support then expload through.

Red Dragon Leo
13 years ago
Reply to  Kevin

If we go to 1330, we will go high… like to the 138.86 spy FP (about 1380 spx). I don’t think the market will rollover at 1330, as the weekly and daily chart will have both turned back up and will fuel a new high being put in.

Kevin
13 years ago
Reply to  Red Dragon Leo

Agreed. A close over the 1343 downtrend line = me putting more money to work. The gangsters are gonna run this back up before the QE3 “decision” They will know before we do for sure so it makes sense that they want to run it back up for a double top to get out of their positions OR break it out like Benny tells ’em to.

Anonymous
Anonymous
13 years ago

we need world war 3.. to kick in…

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

No, that would be bullish.

Anonymous
Anonymous
13 years ago

will the bears push it down.. the last 10 min of the game ?

Red Dragon Leo
13 years ago

From briefly looking at the charts right now, if we don’t sell off tomorrow I’ll fall out my chair! Everything is screaming ROLLOVER right now!

Anonymous
Anonymous
13 years ago
Reply to  Red Dragon Leo

yes it sure is. we are in a bearish trend and the short term charts are over bought. at resistance and vix support. yippy

Anonymous
Anonymous
13 years ago

what is the market telling us… ? and price action saying ?

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

Price is saying up – volume is not convincing…. what say ye?

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

Oh – maybe you were asking what the markets are “saying” … well they are saying “short of WW3 we are going up… who cares that Portugal is failing that Japan has 20K+ dead and a ruined economy/country that the ME is going crazy with violence… just a bunch of “noise” we are going to the MOON and nothing can stop us!” oh… JMHO

Anonymous
Anonymous
13 years ago

so far this is a normal contra trend rally. it happens. the volume on this run up is less than the selling volume on the leg down. nothing to get worried about for now. Moving averages are still in bearish alignment. 30 and 60 charts overbought. you know whats going to happen dont you? there isnt anymore power left in the short term charts to push us over that falling trendline, I hope.
bounces happen. we’ll see.

richie
richie
13 years ago
Reply to  Anonymous

i agree z,

with the 30/60 min charts so overbought, the only bounces i forsee has to do with old reruns of pam anderson on baywatch!!

Anonymous
Anonymous
13 years ago
Reply to  SAN

shows up nice on the 4 hour. we are even more overbought on the stoch and macd than the previous touch. thanks

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

Unfortunately the daily charts are not overbought – histograms back above zero line, if transports lead then we are heading up… should have bailed on those shorts …. dang, dang, dang 🙁

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

look at the upper resistance trendline on the four hour and tell me that again. dont the faster charts push the daily up, and if the faster charts say they are tired then………
I noticed my bear etf watchlist hardly went down at all. hmmmm.
We make a best guess and go with it, right? If we knew then we wouldnt be reading Reds blog. lol

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

Hey ZZB… sorry I don’t have access to 4 hour charts on my charting
programs… I hope/pray you are right as I am 100% short (in one acct) right
now. What short etf were you watching? just curious! I read Red’s blog
because I am addicted to/love you guys 😉

Anonymous
Anonymous
13 years ago

what happen to the QQQQ ? I dont see it listed anymore.

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

QQQ as of a couple days ago

Anonymous
Anonymous
13 years ago

looks like they changed it to QQQ.. instead of QQQQ

Anonymous
Anonymous
13 years ago

rimm taking a beating after hours.

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

YES!!! That should have some effect on the Q’s…

Anonymous
Anonymous
13 years ago

FP at 4:41 of 129.68
sent screen shot to Red

Anonymous
Anonymous
13 years ago

NFLX FP of 123 afterhours…
I hope some of these mean something – that is like $6 off of the close

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

Actually it is just down not a FP I guess… why would RIMM’s earnings effect netflix? Or if it isn’t that let me know what is going on K.

Anonymous
Anonymous
13 years ago

ES & NQ going crazy after hours. Either they want to push all the indices up like 3% tomorrow or they want to make the buying climax today. I haven’t seen anything like it. There are a lot of “firsts” in this 100% criminally manipulated market.

zstock7
13 years ago
Reply to  Anonymous

here’s the chart…comment image

INFOMAMA
13 years ago

check this out on Zero Hedge :http://www.zerohedge.com/article/someone-leak-something, the market is ready to go to the moon!
I hope not, there is no reason, but who knows why? Maybe more problems in Middle East and Europe and everyone goes to ” Safety” like the US stock market?
Will see….

Anonymous
Anonymous
13 years ago
Reply to  INFOMAMA

Well, Madman Ben just announced 4 press conferences a year, so that might have something to do with it…here’s the text (for all):

TODAY TWO LARGE MACRO FUNDS OVER HERE HAVE GONE WILDLY LONG S&P. NOT LONG. WE TALKING 250% NET LONG. IT LOOKS LIKE CONCERTED ACTION ON GDP DGRADES FROM GS AND BOFA ARE THE LETTER DELIVERED TO BEN ON QE3. HUGE DIRECTIONAL BET WITH NEW CAPITAL PUT AT WORK. MOST LIKELY THE TWO INSTITUTIONS ARE COORDINATING ACTION WITH OFFICES IN CONNECTICUT. CHECK INFLOWS OF BLUE CHIP HEDGE FUNDS IN JAN FEB. APPLY 2.5 LEVERAGE. WE ARE TALKING ABOUT SOME 40-60BN PUT AT WORK PRIMARILY ON EMINIS AT THE MOMENT. WHETHER SOME EXTERNAL FORCE WILL LEAVE THEM HIGH AND DRY I DON’T KNOW. BUT IF ANYTHING SEEMED TO BE AT LEAST NOT TOO IRRATIONAL UP TO NOW, IN THIS THIRD WAVE, BE READY FOR REAL ROCK AND ROLL.

I guess that means QE3.

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

So we’ll be up, what, 5000 points on the Dow tomorrow?

Anonymous
Anonymous
13 years ago
Reply to  INFOMAMA

Clicked on that link and it says page removed…

zstock7
13 years ago

here’s a one second chart of that spx futures spike
http://twitpic.com/4cw6cx/full

Gold_Gerb
13 years ago
Reply to  zstock7
Anonymous
Anonymous
13 years ago

Clicked on that link and it says page removed…

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

Which one?

INFOMAMA
13 years ago
Reply to  Anonymous

here is what it said:

TODAY TWO LARGE MACRO FUNDS OVER HERE HAVE GONE WILDLY LONG S&P. NOT LONG. WE TALKING 250% NET LONG. IT LOOKS LIKE CONCERTED ACTION ON GDP DGRADES FROM GS AND BOFA ARE THE LETTER DELIVERED TO BEN ON QE3. HUGE DIRECTIONAL BET WITH NEW CAPITAL PUT AT WORK. MOST LIKELY THE TWO INSTITUTIONS ARE COORDINATING ACTION WITH OFFICES IN CONNECTICUT. CHECK INFLOWS OF BLUE CHIP HEDGE FUNDS IN JAN FEB. APPLY 2.5 LEVERAGE. WE ARE TALKING ABOUT SOME 40-60BN PUT AT WORK PRIMARILY ON EMINIS AT THE MOMENT. WHETHER SOME EXTERNAL FORCE WILL LEAVE THEM HIGH AND DRY I DON’T KNOW. BUT IF ANYTHING SEEMED TO BE AT LEAST NOT TOO IRRATIONAL UP TO NOW, IN THIS THIRD WAVE, BE READY FOR REAL ROCK AND ROLL.

Robert
13 years ago

Think we go down tomorrow. Shorts deployed………

Red Dragon Leo
13 years ago
Reply to  Robert

I think so too Robert. I wish I would have waited until the end of the day to go short, but never the less… I’m now short. Let’s see how this plays out.

INFOMAMA
13 years ago

and here is why the market will keep on going up on steroids, inflating everything in the way, a new article on zero hedge, puting some light into the new QE 3 being substituted by the IMF funding. Bernanke is too fearful realising another very controversed QE, so why not let the IMF be incharge now of the printing money from hell party?
http://www.zerohedge.com/article/imf-prepares-threat-international-monetary-system

Red Dragon Leo
13 years ago

Refresh page for new video…

Gold_Gerb
13 years ago
Reply to  Red Dragon Leo

woohoo!

Red Dragon Leo
13 years ago
Reply to  Gold_Gerb

Just for you GG… I did the video.

Gold_Gerb
13 years ago
Reply to  Red Dragon Leo

thanks! hey, I detected a little stress or something in your voice.
created this chart just for you.
http://i53.tinypic.com/260y1sl.png

a dozen matching points. price zooms when jumping for circle to circle.
tomorrow may be the day. following the arc down.
IMHO, I would wait till the T ends on Monday to be short.
my humble 2 grams.

if QE3 appears, have your exit/hedge plan!
-l8ter

Red Dragon Leo
13 years ago
Reply to  Gold_Gerb

The stress was… I was a little tired. Plus this market is just tiring me out. I’m sick of reading charts only to have them throne back in my face by Bernankes’ Bulls*it manipulation. Sorry about that…

Anonymous
Anonymous
13 years ago

Ok – anyone home/awake? What do you see for today… given this go to the moon scenario so far… looks like we broke resistance… does it hold?

richie
richie
13 years ago
Reply to  Anonymous

dee,
this should roll over….. short terms are overbought…..but “should” in this market will kill you.

just had an ‘e’ touch of an ‘abcde’ wedge off the lows, so we will see what it does

richie
richie
13 years ago
Reply to  Anonymous

dee,

looks like ‘gap’ fill at 1318/19 ~ how sweet for the market to ‘naturally’ go and fill its down gaps…….

Anonymous
Anonymous
13 years ago

not fun, but hanging in there. still early.

Anonymous
Anonymous
13 years ago

closed above the wedge on hourly. can we get a second close above?

Anonymous
Anonymous
13 years ago

all shorts getting vaporized. looks like we will fall soon.

Anonymous
Anonymous
13 years ago
Reply to  Anonymous

so, this is just a morning shake out to weed out the weaklings who stand picking their nose? Get em up against the wall- this dont look right to me. lol

Anonymous
Anonymous
13 years ago

Red is probably straped in his chair. look at Europe go. another gap above resistance open. no signs of breaking down is there.

spot_img

Latest Articles

s2Member®